India agrees to pay 1.5% interest on oil dues to Iran
Since economic sanctions on Iran were lifted in January, India has been eyeing deeper ties with West Asian country with $20-billion (Rs 1.33 lakh crore) worth of investment being lined up in oil and gas, petrochemical and fertiliser projects there. But payment of dues by India, especially for oil imports, has been casting a shadow on the renewed efforts towards better relations. So as a goodwill gesture ahead of Prime Minister Narendra Modi’s visit to the country, India has agreed to pay 1.5% interest on dues worth $6.5 billion (Rs 43,500 ...
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